What is the lookback period for Form 941?
311 views |Last modified 10/5/2023 6:18:39 AM EST | Added by TaxBandits Team
Applicable To
94X
1099
W-2
ACA
W-4
The IRS Form 941 is a federal tax return that must be filed for each calendar year's four quarters. This four-quarter period is a 12-month period that begins on July 1 and ends on June 30, 2022. 2023 is July 1, 2021.
Usually, the total tax amount in the lookback period determines the deposit schedule - either monthly or semiweekly. You are a monthly scheduled depositor if the tax amount reported in Form 941, Line 12, is $50,000 or less. You are a semiweekly scheduled depositor if the total tax amount exceeds $50,000.
See the lookback period for 2023 below:
- Quarter 3: July 1 - September 30, 2021
- Quarter 4: October 1 - Dec 31, 2021
- Quarter 1: January 1 - March 31, 2022
- Quarter 2: April -1 - June 30, 2022
If you've filed only Form 941, the lookback period is 12 months (covering four quarters), ending on June 30th of the prior year.
Need more help?
Get in touch with our dedicated support team Contact Us